September 20, 2016

iHeartMedia Set to Launch Paid Streaming Service

[SOURCE -Billboard] The radio conglomerate will launch a two-tiered offering next year.

As iHeartMedia gears up for its showpiece music festival in Las Vegas this weekend, the company is readying another big event: the announcement of its own paid on-demand streaming service, a source confirms. The launch is expected early next year.

The service is said to be modeled similarly to those announced by Pandora and Amazon last week with two tiered options: a $5-per-month ad-free radio service, which could be labeled "Plus"; and a $10-per-month on-demand streaming service. The news was first reported by the New York Post.

"They have to do it," says one person close to the situation.

"Being a radio network just doesn't cut it anymore."

iHeartMedia declined to comment.

Find out how the iHeart service will be different from their current phone app and what they reportedly will do to compete with Pandora, Spotify, and Apple.